Elbit Systems' Partner, Hanwha, was Selected for the Australian Land 400 Phase 3 Project

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Elbit Systems' partner, Hanwha Defense Australia, has been downselected as the preferred tenderer for the Australian Land 400 Phase 3 project. The project involves delivering the Redback Infantry Fighting Vehicle (IFV) with advanced features. The contract is dependent on successful negotiations and is expected to be significant for Elbit Systems.

HAIFA, Israel, Aug. 16, 2023 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or the "Company") announced today that its partner in the Australian Land 400 Phase 3 project (the "Project"), Hanwha Defense Australia ("Hanwha"), has reported that it was downselected by the Australian Government, as the preferred tenderer for the Project, with final Government approval to be sought at the conclusion of contract negotiations. Hanwha further reported that Elbit Systems is a key partner to Hanwa to deliver the Redback Infantry Fighting Vehicle (IFV) under the Project.

The Redback integrates the Redback Turret  which is based on the the latest generation of Elbit Systems' 30 mm manned turret with the COAPS gunner sight, additional electro-optic systems, Iron Fist active protection system, Elbit Systems' Iron-Vision advanced situational awareness head mounted display system and Elbit Systems' ELAWS laser warning system.

The anticipated contract between Hanwha and Elbit Systems is also contingent upon completion of negotiations between both parties and the Company expects the contract to be in an amount that is material to the Company.

About Elbit Systems

Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance ("C4ISR"), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios, cyber-based systems and munitions. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.

For additional information, visit: https://elbitsystems.com, follow us on Twitter or visit our official Facebook, Youtube and LinkedIn Channels.

Company Contact: 

Dr. Yaacov (Kobi) Kagan, ExecutiveVP - CFO
Tel:  +972-77-2946663
kobi.kagan@elbitsystems.com

Rami Myerson, Director, Investor Relations
Tel: +972-77-2948984
rami.myerson@elbitsystems.com

Dalia Bodinger, VP, Communication & Brand
Tel: 972-77-2947602
dalia.bodinger@elbitsystems.com

This press release may contain forward–looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended and the Israeli Securities Law, 1968) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current facts. Forward-looking statements are based on management's current expectations, estimates, projections and assumptions about future events. Forward–looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions about the Company, which are difficult to predict, including projections of the Company's future financial results, its anticipated growth strategies and anticipated trends in its business.  Therefore, actual future results, performance and trends may differ materially from these forward–looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States among others; changes in global health and macro-economic conditions; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; changes in the competitive environment; and the outcome of legal and/or regulatory proceedings.  The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.'s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward–looking statements speak only as of the date of this release. Although the Company believes the expectations reflected in the forward-looking statements contained herein are reasonable, it cannot guarantee future results, level of activity, performance or achievements. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company does not undertake to update its forward-looking statements.

Elbit Systems Ltd., its logo, brand, product, service and process names appearing in this Press Release are the trademarks or service marks of Elbit Systems Ltd. or its affiliated companies.  All other brand, product, service and process names appearing are the trademarks of their respective holders.  Reference to or use of a product, service or process other than those of Elbit Systems Ltd. does not imply recommendation, approval, affiliation or sponsorship of that product, service or process by Elbit Systems Ltd. Nothing contained herein shall be construed as conferring by implication, estoppel or otherwise any license or right under any patent, copyright, trademark or other intellectual property right of Elbit Systems Ltd. or any third party, except as expressly granted herein.

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SOURCE Elbit Systems Ltd.

FAQ

Who has been selected as the preferred tenderer for the Australian Land 400 Phase 3 project?

Hanwha Defense Australia, in partnership with Elbit Systems.

What is the Redback Infantry Fighting Vehicle (IFV)?

It is a vehicle that integrates advanced features such as the Redback Turret, COAPS gunner sight, electro-optic systems, Iron Fist active protection system, Elbit Systems' Iron-Vision advanced situational awareness head mounted display system, and Elbit Systems' ELAWS laser warning system.

What is the status of the contract between Hanwha and Elbit Systems?

The contract is contingent upon successful negotiations between both parties.

Is the contract expected to have a significant impact on Elbit Systems?

Yes, the company expects the contract to be material to its business.